About Good Returns  |  Advertise  |  Contact Us  |  Terms & Conditions  |  RSS Feeds Other Sites:   tmmonline.nz  |   landlords.co.nz
Last Article Uploaded: Thursday, April 25th, 3:52PM
Latest Headlines

Partners closes Blackstone deal

Partners Life says the investment from Blackstone Tactical Opportunities has closed successfully. The transaction, first announced in May, was subject to regulatory approvals, which have now been granted.

Monday, September 12th 2016, 9:05AM

The New York-headquartered Blackstone is listed on the New York Stock Exchange and is one of the world’s largest asset managers with more than $500 billion (US$344 billion) in assets under management. Its substantial capital investment in Partners Life equates to a significant minority shareholding in the company.

Partners Life managing director Naomi Ballantyne said the capital injection would underpin Partners Life’s growth plans for the near future. “This investment satisfies Partners medium term capital requirements, without further need to go back to equity markets.”

In the year to March 31 Partners reported a 36% increase in annual premium income, a 28% increase in the book of in-force annual premium income (API) and a 25% increase in the number of lives insured by Partners Life.

"The most impressive number was our underlying insurance profit, which grew by 342% to $12.6 million," Partners Life chief financial officer Sean Kam said.

Partners Life has close to 130,000 customers.

Tags: Blackstone Partners Life

« Kiwi company attracts $200 million global investmentPartners increases medical policy price »

Special Offers

Comments from our readers

No comments yet

Sign In to add your comment



Printable version  


Email to a friend
Insurance Briefs

AIA and Sovereign close online product
Sovereign's guaranteed acceptance insurance product Simple Life is being closed to new business.  

Cigna expands into South Island
Cigna has officially opened its new office in Christchurch, the organisation’s first move into the South Island.

AIA donates $100,000 for mental health
AIA is celebrating its centennial by joining forces with the Mental Health Foundation.

Partners gets ratings upgrade

News Bites
Latest Comments
Subscribe Now

Cover Notes - Specific news aimed at risk advisers

Previous News
Most Commented On
About Us  |  Advertise  |  Contact Us  |  Terms & Conditions  |  Privacy Policy  |  RSS Feeds  |  Letters  |  Archive  |  Toolbox
Site by Web Developer and eyelovedesign.com